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Conservation Reserve Program Payments: Self-Employment Income, Rental Income, or Something Else?

Description: This report outlines the history of the Conservation Reserve Program (CRP), the changing positions of the Internal Revenue Service (IRS), pertinent case law, and other provisions of the Internal Revenue Code (IRC). Several possible approaches to the taxation of CRP payments are discussed.
Date: April 14, 2008
Creator: Pettit, Carol A.
Partner: UNT Libraries Government Documents Department

The First-Time Homebuyer Tax Credit

Description: This report discusses a refundable tax credit for first-time homebuyers. First-time homebuyers generally include individuals who have not had a present interest in a principal residence within three years before buying the new property.
Date: September 12, 2008
Creator: Pettit, Carol A.
Partner: UNT Libraries Government Documents Department

Rejection of Collective Bargaining Agreements in Chapter 11 Bankruptcies: Legal Analysis of Changes to 11 U.S.C. Section 1113 Proposed in H.R. 3652 -- The Protecting Employees and Retirees in Business Bankruptcies Act of 2007

Description: This report discusses the bill that prescribes the parameters of offers that may be made by the debtor in negotiations as well as the requirements that must be met before a court can approve rejection. The bill also provides an absolute right of all employees to strike if their collective bargaining agreements (CBA), is modified or rejected.
Date: unknown
Creator: Pettit, Carol A.
Partner: UNT Libraries Government Documents Department

"Amazon Laws" and Taxation of Internet Sales: Constitutional Analysis

Description: As more purchases are made over the Internet, states are looking for new ways to collect taxes on online sales. There is a common misperception that the U.S. Constitution prohibits states from taxing Internet sales. This report discusses "Amazon laws", which try to capture uncollected taxes on Internet sales and yet still comply with the Constitution's requirements.
Date: November 28, 2014
Creator: Lunder, Erika K. & Pettit, Carol A.
Partner: UNT Libraries Government Documents Department

"Amazon Laws" and Taxation of Internet Sales: Constitutional Analysis

Description: This report focuses on the ways in which the states' efforts to impose requirements on out-of-state retailers are limited by the Constitution. The report discusses recent state legislation as well as legislation introduced in the two most recent Congresses.
Date: April 3, 2013
Creator: Lunder, Erika K. & Pettit, Carol A.
Partner: UNT Libraries Government Documents Department

Form 1099 Information Reporting Requirements as Modified by the Patient Protection and Affordable Care Act

Description: This report discusses the modifications to IRC § 6041 made by § 9006 of the Patient Protection and Affordable Care Act (PPACA) and briefly discusses the penalties that can be imposed on persons that do not comply with these information reporting requirements.
Date: August 6, 2010
Creator: Pettit, Carol A. & Liu, Edward C.
Partner: UNT Libraries Government Documents Department

Reporting Foreign Financial Assets Under Titles 26 and 31: FATCA and FBAR

Description: This report outlines the U.S. reporting requirements for foreign assets and accounts under the Foreign Account Tax Compliance Act (FATCA) along with the reporting requirements of the Foreign Bank Account Reporting (FBAR) under the Bank Secrecy Act. It also addresses the requirements imposed on foreign financial institutions and the agreements the United States has with other countries to cooperate in information reporting.
Date: March 27, 2014
Creator: Lunder, Erika K. & Pettit, Carol A.
Partner: UNT Libraries Government Documents Department

Exemptions for Firearms in Bankruptcy

Description: The U.S. Supreme Court's decisions regarding the nature of the people's right to "keep and bear arms," as guaranteed in the Second Amendment to the U.S. Constitution, has focused some interest on the extent to which firearms are protected from the reach of creditors under either federal or state laws. State laws protecting certain property from creditors' claims may be used both in and outside of the bankruptcy context. Federal law may also protect certain property from creditors' claims in bankruptcy.
Date: May 2, 2011
Creator: Pettit, Carol A. & Platte, Vastine D.
Partner: UNT Libraries Government Documents Department

Policy Issues in the General Motors Vehicle Recall

Description: This report discusses the National Highway Traffic Safety Administration (NHTSA) process by which vehicle safety defects are identified and vehicles are recalled, as well as the impact that the 2009 GM bankruptcy may have on liability for this defect.
Date: March 31, 2014
Creator: Canis, Bill; Peterman, David Randall & Pettit, Carol A.
Partner: UNT Libraries Government Documents Department

Tax Provisions to Assist with Disaster Recovery

Description: Report that provides a basic overview of existing, permanent provisions that benefit victims of disasters, as well as past, targeted legislative responses to particular disasters. The relief is discussed without examining either the qualifications for or the limitation on claiming the provisions' benefits.
Date: November 29, 2012
Creator: Lunder, Erika K.; Pettit, Carol A. & Teefy, Jennifer
Partner: UNT Libraries Government Documents Department

The Potential Federal Tax Implications of United States v. Windsor (Striking Section 3 of the Defense of Marriage Act (DOMA)): Selected Issues

Description: This report provides an overview of the potential federal tax implications for same-sex married couples of the U.S. Supreme Court ruling in United States v. Windsor, with a focus on the federal income tax. Estate tax issues are also discussed. This report focuses on changes in the interpretation and administration of federal tax law resulting from the Court's decision. The decision itself did not amend federal tax law.
Date: September 9, 2013
Creator: Crandall-Hollick, Margot L.; Sherlock, Molly F. & Pettit, Carol A.
Partner: UNT Libraries Government Documents Department

The Potential Federal Tax Implications of United States v. Windsor (Striking Section 3 of the Defense of Marriage Act (DOMA)): Selected Issues

Description: This report will provide an overview of the potential federal tax implications for same-sex married couples of the U.S. Supreme Court (SCOTUS) ruling in United States v. Windsor, with a focus on the federal income tax. Estate tax issues are also discussed. Importantly, this report focuses on changes in the interpretation and administration of federal tax law that may result from the SCOTUS decision.
Date: July 18, 2013
Creator: Crandall-Hollick, Margot L.; Sherlock, Molly F. & Pettit, Carol A.
Partner: UNT Libraries Government Documents Department

The Use of Modified Adjusted Gross Income (MAGI) in Federal Health Programs

Description: This report explores how modified adjusted gross income (MAGI) is defined differently across health programs such as Medicare, the health insurance exchanges under the Affordable Care Act (ACA), and Medicaid. It also discusses why MAGI is used, and how it is applied, specific to each program. The report covers that MAGI is used to determine (1) penalty amounts owed if a person does not comply with the individual mandate or whether an individual is exempt from the individual mandate; (2) eligibility for and the amount of a premium credit to purchase coverage through a health insurance exchange; and (3) Medicaid income eligibility for certain populations.
Date: February 25, 2016
Creator: Baumrucker, Evelyne P.; Davis, Patricia A.; Fernandez, Bernadette; Mach, Annie L. & Pettit, Carol A.
Partner: UNT Libraries Government Documents Department

U.S. Motor Vehicle Industry: Federal Financial Assistance and Restructuring

Description: This report focuses on the current situation faced by the Detroit 3, key aspects of their current crisis, including possible consequences of a failure of one or more companies, and some aspects of legislative actions that have been considered to bridge their financial conditions to a more stable situation.
Date: May 29, 2009
Creator: Canis, Bill; James M. Bickley; Chaikind, Hinda; Pettit, Carol A.; Purcell, Patrick; Rapaport, Carol et al.
Partner: UNT Libraries Government Documents Department

U.S. Motor Vehicle Industry: Federal Financial Assistance and Restructuring

Description: This report looks at TARP and federal government assistance to General Motors, Chrysler, and Ford Motors. In particular, the history of these transactions and how they were affecte by Congress, Senate, President Bush, and President Obama.
Date: January 30, 2009
Creator: Cooney, Stephen; Bickley, James M.; Chaikind, Hinda; Pettit, Carol A.; Purcell, Patrick; Rapaport, Carol et al.
Partner: UNT Libraries Government Documents Department